Financial Crime World

Cybercrime Threatens Albania’s Financial Institutions: Public-Private Cooperation Urged

Tirana, Albania - A Call to Action Against Online Crimes

In a bid to strengthen the fight against cybercrime and online financial crimes, the Albanian State Police’s Cybercrime Unit has called for public-private cooperation in preventing and controlling risks posed by these threats.

The Importance of Public-Private Cooperation

A recent meeting between law enforcement agencies and representatives from the private sector, including financial institutions and internet service providers (ISPs), highlighted the importance of sharing information on new trends and criminal activities in Albania. The meeting was organized under the auspices of the iPROCEEDS project, a public-private initiative aimed at combating cybercrime and online crime proceeds.

Key Takeaways from the Meeting

  • Sharing Information is Key: Tonin Voçaj, Director of the Criminal Police Department, emphasized the need for inclusive discussion on cyber threats and potential risks, as well as sharing information between stakeholders.
  • Cooperation is Essential: Lutfi Minxhozi, Director of the Economic Crimes Department, added that cooperation between the private sector and state institutions is crucial in preventing cybercrime, which is increasingly replacing traditional crimes.

Participants Share Experiences

Representatives from the Ministry of Interior, prosecutors, financial intelligence unit, National Bank of Albania, and other government agencies attended the meeting, along with private sector representatives. The participants shared their experiences on challenges related to online financial crime and internet abuse, as well as the difficulties faced by businesses as a result of cybercrime.

Conclusion

The meeting concluded that cooperation between law enforcement agencies and the private sector is essential in combating cybercrime and preventing online financial crimes. By working together, Albania’s financial institutions can better protect themselves against these threats and ensure the security of their customers’ data and transactions.